Jaquet Droz India eyes India in top five global mkts

Sreeradha D Basu, ET BureauJun 23, 2008, 01.16am IST

KOLKATA: Watchmaker Montres Jaquet Droz SA, a part of the prestige segment of the Swatch Group, is gearing up to grab a slice of the top end of India's Rs 600-crore luxury market. Jaquet Droz, which launched its India operations last year, aims to make India one of its top five global markets in the next 10 years.

The company has set itself a target of $1 million for the year ending March 2009. In another five-six years, it hopes to hit the $5-6 million mark. Jaquet Droz specialises in the art of unique and limited edition pieces. Watch prices start at Rs 4 lakh, with the average price hovering around Rs 10-12 lakh. Montres Jaquet Droz SA CEO Manuel Emch toldET:"We have launched four point-of-sales (POS) in Delhi, Kolkata, Chennai and Bangalore. Within the next two-three years, we want to extend our network in India to 8-10 POS. Depending on opportunities and locations, we also want to set up standalone boutiques."

According to Mr Emch, as part of its India strategy, Jaquet Droz intends to spend about 15-20% of its turnover towards generating brand awareness. "We will also focus on one-on-one marketing, through small events with key customers and build up awareness this way."